Abstract
In this paper, we argue that top income shares are crucial to both the levels and dynamics of income inequality in Brazil. We use income tax data to correct for the underestimation of top incomes in surveys in the years 2006-2012, and find that the Gini coefficient remained stable during this period. We also present preliminary estimates of the top 1% income share (gross taxable income only) according to income tax data since 1928. Our results suggest that income inequality in Brazil was high throughout the 20 th century,though not constant. There are no signs of long-term trends towards lower or higher inequality, but top income shares have fluctuated significantly, sometimes in tandem with major political events. Keywords: Income inequality. Top incomes. Rich. Income tax.
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